Fertilizer stocks see strong investor interest
- A good monsoon season, surplus reservoir levels and high Kharif crop sowing have boosted the demand for fertilizers and agri-chemicals, reports suggest. Recently, state-owned National Fertilizers reported that it achieved the highest ever urea production at 9.9 lakh MT in Q3.
- Shares of National Fertilizers (+16.5%), FACT (+20.0%) and Madras Fertilizers (+19.8%) saw a strong rise coupled with an increase in volumes today.
BHEL bags large order
- The heavy electricals maker received a ₹450 crore order for a steam and power plant from the National Aluminium Corporation Limited (NALCO).
- BHEL is India’s largest manufacturer of power-generation equipment and has installed over 1,90,000 MW of power plant equipment globally. Shares of BHEL dipped by 0.5% today, But in Q3 they gained nearly 23%.
Apollo Microsystems soars on defence order
- The news of a ₹50 crore order from Bharat Electronics Limited (BEL) sent the shares of Apollo Micro Systems soaring nearly 20% intraday. The company manufactures electromechanical components for public and private sector companies that fall under the Ministry of Defence.
- The company’s shares hit a new 52-week high of ₹155.20. It also saw a nearly 33 times surge in average volumes on the BSE. The stock closed with gains of 13.8% today.
Vehicle registration rise in December
- The Federation of Automobile Dealers Associations of India (FADA) said that the total vehicle registrations in December rose by 11% YoY backed by festive spillover demand and pre-buying ahead of expected price hikes in January. This is the first time growth was registered this fiscal.
- Sales of passenger vehicles and tractors grew the most, 24% and 35%, respectively. What is encouraging is that the dealer-level inventories have reduced, leaving room for growth for automakers. Shares of auto companies were upbeat as Tata Motors (+12.6%), Ashok Leyland (+3.5%), Maruti (+2.6%), Bajaj Auto (+2.7%) and M&M (+2.3%) saw strong gains.